Alibaba remains near its 52-week high, uptrend looks convincing
Show Me the Money! 25 June, 2020, by Vladimir Rojankovski, Head of analytical dept., Grand Capital
A bet on the growth of international e-commerce Alibaba (BABA) has rewarded its long-term investors. Even with on-and-off U.S.–China trade tensions and the spread of the novel coronavirus, Alibaba stock remains near its 52-week high, but its uptrend still looks convincing.
Its fundamentals are sound. The management expected the quarter ending March would be negative, but they produced 22% year-over-year revenue growth, and 19% year-over-year core commerce revenue growth.
With their broad approach of focusing on both the top and bottom line in their e-commerce, digital media and cloud computing segments, they expect to grow earnings by 30% this year.
A bet on the growth of international e-commerce Alibaba (BABA) has rewarded its long-term investors. Even with on-and-off U.S.–China trade tensions and the spread of the novel coronavirus, Alibaba stock remains near its 52-week high, but its uptrend still looks convincing.
Its fundamentals are sound. The management expected the quarter ending March would be negative, but they produced 22% year-over-year revenue growth, and 19% year-over-year core commerce revenue growth.
With their broad approach of focusing on both the top and bottom line in their e-commerce, digital media and cloud computing segments, they expect to grow earnings by 30% this year.